TECHNICAL ANALYSIS and DERIVATIVES STRATEGIES
*TECHNICAL ANALYSIS and DERIVATIVES STRATEGIES*
*: 12th September 2007*
*Market may open with a firm note and expected to test key resistance levels today. Minor profit booking by noon. But short covering can be seen in the later part of the day.*
*SENSEX (15542)*
The Sensex has immediate resistance at 15577 and 15600 levels. If moves above, it could test 15663 and 15703 levels. . If moves above, further uptrend is likely. Sensex has immediate support at 15520 and 15505 levels. If falls below, it may test 15449.
*NIFTY (4496)*
The Nifty has immediate resistance at 4510 and 4517 levels. If moves above, it could test 4535 and 4550. If moves above, further uptrend is likely. Support for the Nifty will be at 4490 and 4487 levels. If moves below, it could test 4464.
*ACC (1105)*
1099and 1092 are the support levels. Immediate resistance at 1107, above, it can test 1118 and thereafter expect a price of 1135. (Buy at declines)
*HLL (217.10)*
The stock has resistance at 219, if moves up, it can test 221 and thereafter expect all round buying and it can test 230 levels. Support at 215 and 212. (Buy for short term gains)
*TISCO (708.60)*
The stock is Bullish and having minor resistance at 712, above it can test 725 and 732. Support at 706 and 703. (Buy for short term gains)
*SCI (197.80)*
The stock has a potential to move above 212 with minor resistance at 199 and 202. Support at 196 and 195.50 (Buy above 199)
*BHEL (1909.40)*
The stock is getting consistent support from 1903 and 1895 levels. On the raising channel, it has resistance at 1925, above it can test 1938 and 1955. (Buy at declines)
*DERIVATIVES STRATEGIES *
*INFOSYS OUTLOOK SEEMS STEADY, BUY FUTURES @1800.*
*SCI OUTLOOK POSITIVE, BUY FUTURES.*
*Disclaimer: *The information contained here was gathered from sources deemed reliable; however, no claim is made as to its accuracy or content. This does not contain specific recommendations to buy or sell at particular prices or times, nor should any of the examples presented be deemed as such. There is a risk of loss in trading stocks and stocks options and you should carefully consider your financial position before making any trades. This is not, nor is it intended to be, a complete study of chart patterns or technical analysis and should not be deemed as such. GEOJIT FINANCIAL SERVICES does not guarantee that such information is accurate or complete and it should not be relied upon as such. Any opinions expressed reflect judgments at this date and are subject to change without notice. For use at the sole discretion of investors without any liability on GEOJIT FINANCIAL SERVICES whatsoever. Stock trading involves high risks and you can lose a significant amount of money.
*RESEARCH WING*
*ALEX K MATHEW **alex@geojit.com*
*GEOJIT FINANCIAL SERVICES LTD, KERALA*
